May 11, 2020
Establishment of Sumitomo Corporation Group’s Human Rights Policy
Sumitomo Corporation (Head Office: Chiyoda-ku, Tokyo; Representative Director, President and Chief Executive Officer: Masayuki Hyodo) has established the Sumitomo Corporation Group’s Human Rights Policy in reference to the United Nations Guiding Principles on Business and Human Rights.
Through its global business operations Sumitomo Corporation engages with a variety of stakeholders, such as employees, customers, and local residents. In light of this, the Company declares in its management principles that it places prime importance on utmost respect for the individual. The recent Policy has been developed in response to rising international expectations for businesses to play a greater role in promoting respect for human rights. As such, it represents our commitment to respect human rights to fulfill our corporate social responsibility and to grow sustainably with society.
With the new Policy in place, we will conduct human rights due diligence*, stakeholder engagement, and training programs for our executives and employees within the Group as well as our suppliers and business partners. These activities will allow the Company to contribute toward creating a sustainable society.
* Human rights due diligence: An ongoing risk management process that a reasonable and prudent company needs to follow in order to identify, prevent, mitigate and account for how it addresses its adverse human rights impacts. It includes four key steps: assessing actual and potential human rights impacts; integrating and acting on the findings; tracking responses; and communicating about how impacts are addressed. (Source: The UN Guiding Principles Reporting Framework with implementation guidance)